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HomeAltcoin NewsLitecoin (LTC) Price Analysis: Bullish Above $145

Litecoin (LTC) Price Analysis: Bullish Above $145

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  • Litecoin price started a decent recovery above the $130 zone against the US Dollar.
  • LTC price is now trading above $135 and the 55 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $140 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
  • The pair could continue to move up if there is a break above the $145 barrier.

Litecoin price is gaining bullish momentum above $130 against the US Dollar, similar to bitcoin. LTC price could resume higher if it breaks the $145 resistance zone.

Litecoin Price Analysis

This week, there was a fresh increase in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC struggled to clear the $150 resistance zone and started a fresh decline.

There was a break below the $140 and $130 support levels. The price even spiked below the $125 support and the 55 simple moving average (4-hours). A low was formed near the $120 level and the price is now correcting higher.

There was a move above the $130 level. There was a break above the 50% Fib retracement level of the downward move from the $154 swing high to $120 low. Besides, there was a break above a major bearish trend line with resistance near $140 on the 4-hours chart of the LTC/USD pair.

The pair is now trading above $135 and the 55 simple moving average (4-hours). Litecoin is now facing resistance near the $142 level. The next major resistance for the bulls is near the $145 level.

It is near the 76.4% Fib retracement level of the downward move from the $154 swing high to $120 low. A clear move above the $145 level could pump the price. The next key resistance could be $160. On the downside, an immediate support is near the $135 level.

The first key support is near the $132 level. If there is a downside break the $132 support, the price could visit $120. The next key support is near the $112 level, below which the price could slide towards the $105 level.

Litecoin (LTC) Price
Litecoin (LTC) Price

Looking at the chart, litecoin price is clearly trading above $132 and the 55 simple moving average (4-hours). Overall, the price could continue to move up if there is a break above the $145 barrier.

Technical indicators

4 hours MACD – The MACD for LTC/USD is slowly gaining pace in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now above the 50 level.

Key Support Levels – $132 and $130

Key Resistance Levels – $145 and $150.

Aayush Jindal
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets.

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